Thursday, May 11, 2023 / by Kenneth Brands
There’s been some concern lately that the housing market is headed for a crash. And given some of the affordability challenges in the housing market, along with a lot of recession talk in the media, it’s easy enough to understand why that worry has come up.
But the data clearly shows today’s market is very different than it was before the housing crash in 2008. Rest assured, this isn’t a repeat of what happened back then. Here’s why.
It’s Harder To Get a Loan Now
It was much easier to get a home loan during the lead-up to the 2008 housing crisis than it is today. Back then, banks had different lending standards, making it easy for just about anyone to qualify for a home loan or refinance an existing one. As a result, lending institutions took on much greater risk in both the person and the mortgage products offered. That led to mass defaults, foreclosures, and falling prices.
Things are different today as purchasers face increasingly higher . ...
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Tuesday, May 9, 2023 / by Kenneth Brands
If you’re a homeowner thinking about making a move, you may wonder if it’s still a good time to sell your house. Here’s the good news. Even with higher mortgage rates, buyer traffic is actually picking up speed.
Data from the latest ShowingTime Showing Index, which is a measure of buyers actively touring homes, helps paint the picture of how much buyer demand has increased in recent months (see graph below):
As the graph shows, the first two months of 2023 saw a noticeable increase in buyer traffic. That’s likely because the limited number of homes for sale kept shoppers looking for homes even during colder months.
To help tell the story of why the latest report is significant, let’s compare foot traffic this February with each February for the last six years (see graph below). It shows this was one of the best Februarys for buyer activity we’ve seen in recent memory.
In the last six years, we saw the most February buyer traffic in 2021 . ...
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Friday, April 14, 2023 / by Kenneth Brands
Over the last year, the housing market has gone through a significant change. While it’s still a sellers’ market, homes that are priced right are selling, and they get the most attention from buyers right now. If you’re thinking of selling your house this spring, it’s important to lean on your expert real estate advisor when it comes to setting a list price. As Realtor.com explains:
“Move-in-ready homes with curb appeal and in desirable areas—and that are priced to sell—are especially likely to move quickly this spring.”
In today’s market, how you price your house will not only make a big difference to your bottom line, but to how quickly your house will sell.
Why Pricing Your House Right Matters
Your asking price sends a message to potential buyers, especially today. If it’s priced too low, you may leave money on the table or discourage buyers who may see a lower-than-expected price tag and wonder if that means som! ...
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Thursday, March 9, 2023 / by Kenneth Brands
Are you looking to purchase a home but not sure where to start? The process of finding a house can be overwhelming, but there are a few tips that will help make the journey smoother.
Know What You Can Afford– Before you can even begin your search for the perfect home, you should have an accurate idea of how much house you can realistically afford. It's important to consider factors such as your monthly income, down payment, closing costs, and other expenses before making any decisions. Any real estate agent at Biggs Realty can introduce you to several trusted local mortgage experts and help you get pre-approved.
Consider Your Needs– When searching for a home, it's important to look at what your needs are before deciding on any particular property. Ask yourself questions like: How much space do I need? Do I want a large yard or outdoor space? Do I need extra bedrooms or office space? What kind of amenities am I looking for? Answering these questions will help nar ...
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Tuesday, March 7, 2023 / by Kenneth Brands
Selling or buying a home can be an exciting, yet daunting task. It’s important to have someone on your side, who knows the ins and outs of real estate, to make sure you are getting the best deal. That’s where Biggs Realty comes in. With a professional, licensed, real estate agent, you can rest assured that all transactions will be handled with the utmost care and expertise. Let’s discuss some of the benefits of enlisting their services.
Experience Matters
The team at Biggs Realty has more than 25 years of experience in helping buyers and sellers navigate the process of selling and buying homes, so you know you're in good hands. From writing offers, to navigating inspections and appraisals, they have seen it all before which means they are better equipped to help you through each step of the process. Plus, their knowledge allows them to negotiate better deals and position their clients for an optimal outcome on each transaction!
Marketing is Key
When it comes t ...
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